Jaresko: Ukraine will not pay Russia 3 billion to the doll because she joined the restructuring program

Ukraine not to pay Russia $ 3 billion., borrowed Viktor Yanukovich, as the Russian Federation did not join the restructuring programme. In an interview with channel 5 said the Minister of Finance of Ukraine Natalia Jaresko.

According to her, the Cabinet of Ministers has invited Russia to join the restructuring of the Ukrainian debt.

IMF also intends to review its policy in respect of debtors, — Yaresko

«But they chose not to participate. Now we are preparing for all other possibilities,» she said.

Jaresko said that Ukraine is unable to make payments on this debt: «First of all, on the IMF programme, we have very well defined parameters: how much can we give funds to anything from budget deficits to the issuance of debt.»

The state debt of Ukraine has managed to reduce by 3 billion US dollars, said Jaresko. She recalled that the Cabinet decided to release as part of the restructuring the debt burden of new Eurobonds totaling 12 billion dollars. Their banks of Ukraine. The only person who doesn’t make concessions, this is Moscow. Russia demands to return her money, which Putin gave to Yanukovych.

«It eventually alleviate the debt burden in the country, because we completed the restructuring of 13 of 14 Eurobond. And thus we have reduced to three billion (dollars) amount of debt in the country. And in addition we transferred the fees to do more in the future. For us, it gives time to breathe, time to the resources that we have, to focus on our real economy», — said the Minister.

As reported, the Ministry of Finance of Ukraine and the government of the Russian Federation have not reached agreement on the restructuring terms of bonds of external state debt in the amount of 3 billion US dollars, with maturities Mature in December 2015.


Ukraine and the Committee of creditors on August 27, reached agreement on the restructuring of the state debt total volume of 18 billion dollars. The restructuring envisages the full write-off of $ 3.8 billion, the deferral of payments on principal in the amount of 11.5 billion dollars in 4 years, as well as fixation of coupon rate on all the bonds at 7.75% per annum.

14 October in London there was held training camp with the holders of Eurobonds of Ukraine for the end of voting in support of the country’s terms of exchange securities.

More than 75 percent of holders of Ukrainian Eurobonds, which are subject to restructuring, agreed to the conditions of write-off and extension of debt payments and has decided to write off $ 3 billion of debt.

Ukraine invited the Russian Federation to resolve the issue of restructuring the so-called «Russian debt» of 3 billion dollars, payment of which was to be held in December 2015, October 29, if this issue is not solved, Ukraine and Russia will consider this issue in court.

IMF also intends to review its policy in respect of debtors, — Yaresko

The international monetary Fund is going to revise its policy regarding the official debt, said Natalia Jaresko.

«They (IMF – ed.) said it was willing to reconsider its policy towards official debt. I understand that at the end of November will be the first discussion at the International monetary Fund, and the vote should be from the beginning of December month,» she said.

At the same time Jaresko noted that it is not only about Ukraine, but actually about the politics of the International monetary Fund. However, the appropriate steps the IMF can further lending to the country.

«If there is support for policy change at the International monetary Fund, I’m sure (if Ukraine will fulfill all its other obligations in the Memorandum on the programme) that the failure of the so-called Russian debts will not close the program of crediting», — said the Minister.

The reform of the IMF, which will allow Ukraine to continue financing in case of default of the debt Kiev before Moscow, it is necessary to dial an ordinary majority in the Board of Directors of the Fund. This was announced on the sidelines of the conference, Russia Direct the Director of IMF from Russia Alexei main, transfer «RIA Novosti».

According to him, voters of the Russian Federation will not be enough to block this reform.
«Here you need a simple majority, Russia has only 2.5%. Therefore, I expect that the reform will be adopted. But yet not one debate on this issue,» he said.
Morin noted that Russia in this case has no veto.

Earlier it was reported that Russia is considering blocking the further crediting of Ukraine International monetary Fund in the event of a default by Kiev owes Moscow.

The Wall Street Journal, citing its own sources wrote that the international monetary Fund is ready to rewrite its own rules for loans to Ukraine.

Jaresko: Ukraine will not pay Russia 3 billion to the doll because she joined the restructuring program 13.11.2015

Ноябрь 13th, 2015 by
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